Tuesday, October 13, 2026

A Note From Tim Powers

🏡 Tuesday Market Update: More Inventory, More Negotiating Power & More Opportunities!

Happy Tuesday, Partners!

Hope everyone had a fantastic weekend!

While mortgage rates have been challenging lately, there are some real opportunities developing in the housing market. The agents who recognize those opportunities, reconnect with their buyers, and offer creative solutions are the ones who can keep putting deals together!

Here's what's happening and how we can turn it into more business.

📈 THIS WEEK'S MORTGAGE MARKET UPDATE

According to Freddie Mac's October 8 report:

30-Year Fixed: 7.40% national average, up from 7.28% the previous week.

15-Year Fixed: 6.73% national average, up from 6.60%.

Market Outlook: Inflation concerns and rising bond yields continue to pressure mortgage rates.

These are national survey averages for well-qualified conventional borrowers, not individual rate quotes. Actual rates and costs depend on credit, down payment, loan program, market conditions, and other factors.

The good news? Buyers have something they haven't had much of in recent years: MORE NEGOTIATING POWER!

🏠 ARIZONA & WASHINGTON MARKET OPPORTUNITIES

Phoenix / Scottsdale Area

Phoenix-area buyers are seeing more choices. September active listings increased approximately 7.5% year over year, and nearly 29% of listings had price reductions.

That creates opportunities to negotiate seller concessions, closing-cost assistance, and potentially mortgage rate buydowns.

Washington State

Northwest MLS reported a 24.5% increase in active listings compared with September 2025, while pending sales declined 15.1%.

More inventory and less competition can mean opportunities for buyers who were previously frustrated by bidding wars.

The takeaway: A higher interest rate doesn't necessarily mean a buyer can't find a better overall deal!

💰 3 WAYS TO GENERATE MORE BUSINESS THIS WEEK

1️⃣ Reconnect With Buyers Who Put Their Search on Hold

Reach out to buyers who stopped looking because of rates or affordability.

Try saying:

"I know you stepped back from buying, but we're seeing more inventory and sellers willing to negotiate. Would you be interested in seeing what we could put together with some creative financing?"

You might be surprised how many buyers are willing to reconsider!

2️⃣ Turn Price Reductions Into Financing Opportunities

When you see a listing that's been sitting or has recently reduced its price, let's look at the numbers.

Sometimes negotiating seller-paid closing costs or a temporary rate buydown can improve a buyer's initial cash flow more than an additional price reduction.

I'll gladly help you put together payment comparisons to present to your buyers.

3️⃣ Don't Give Up on Buyers Who Were Previously Declined

A buyer who was turned down by one lender isn't necessarily out of options.

Self-employed borrowers, commission income, credit challenges, unusual employment situations, and buyers needing alternative financing may have solutions worth exploring.

Before you give up on a transaction, give me a call!

⭐ ALREADY PREAPPROVED? LET ME TAKE A SECOND LOOK!

This is something I encourage every agent to consider.

Just because your buyer has a preapproval letter doesn't mean they have the best financing available.

With more than 20 years in the mortgage business and access to 150+ lenders, I can compare programs, pricing, and financing structures that may not be available through their current lender.

A second look could potentially mean:

✅ A more competitive interest rate or lower closing costs.

✅ A lower monthly payment through a different financing structure.

✅ Additional purchasing power.

✅ Access to alternative loan programs.

✅ Identifying potential financing issues before they jeopardize your closing.

And sometimes, I'll confirm that your buyer already has an excellent loan option.

Either way, you and your buyer benefit from knowing you've explored the options.

My goal isn't to complicate your transaction. It's to help you protect it, deliver outstanding service, and get more clients to the closing table.

🚀 LET'S TURN OPPORTUNITIES INTO CLOSINGS!

Here's my challenge for this week:

Reach out to five past buyers who never purchased and five current prospects who might benefit from a financing review.

That's 10 opportunities to start conversations that could turn into your next transaction!

If you have a buyer who is already preapproved, needs a second opinion, or has a challenging scenario, I'd love the opportunity to help.

Send me their scenario, call me, or introduce us by email. I'll take it from there!

Let's make it a productive week, help more families become homeowners, and get some deals closed!

Have a fantastic week!

Tim Powers

These are national mortgage index rates as of October 16, 2026, plus our pricing adjustment. The 30-year fixed is at 7.78% — down 0.11% from last week, FHA at 7.13%, and VA at 7.05%. For exact rates tailored to your buyers, reach out to your loan officer directly.

Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment

From Your Lending Partner

Renovation Loans Open Inventory Your Buyers Have Been Ignoring

The best-kept secret in a low-inventory market is the renovation loan. While your buyers are competing on turnkey properties, there's a whole layer of homes — dated, cosmetically challenged, priced below market — that most buyers skip because they assume they need cash to fix them up. They don't. FHA 203(k) and Fannie Mae HomeStyle loans let buyers finance the purchase and the renovation in a single loan. One closing, one payment. Buyers can borrow up to the after-improved value of the home — which means the renovation essentially pays for itself through equity. I've used this to help buyers turn a $320K fixer into a $410K home at close. The process is more involved than a standard purchase — there's a required contractor bid and a HUD consultant on FHA deals — but I manage that entire process. If you have buyers frustrated by competition on move-in-ready homes, let's open up the conversation about what a renovation loan could unlock for them.

Let's map out what a renovation loan could look like for one of your buyers this week.

Mortgage News Daily

Home Prices Keep Climbing, Just Not Everywhere

Home prices picked up a little more speed in July, as both FHFA and the S&P Cotality Case-Shiller Home Price Indices showed stronger annual appreciation than in their previous readings. The gains remain relatively modest by historical standards, and while nominal prices are still moving higher nationally, the picture looks considerably less impressive after accounting for inflation. The FHFA H

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Redfin showed 32 missing properties and Homes.com 27, vs. 15 for Zillow and 12 for Realtor.com

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New Home Sales Back in The Range After Uncommonly Big Bounce

The new home market returned to the longer-term range last month, with sales seeing their 4th biggest rebound in 4 years.  Sales of new single-family homes rose to a seasonally adjusted annual rate of 684,000 in August, up 6.4% from July's revised 643,000 but 2.0% below the same month last year. The increase puts sales back above the 600,000 mark after July's pullback, although the broader tr

Did You Know?

DSCR Investment Loans

Qualify investors on rent, not personal income.

DSCR loans let real estate investors qualify for financing based on the property's rental income — not their personal tax returns or DTI. Ideal for portfolio investors who've maxed out conventional loan counts.

Share With Your Buyers

Getting Pre-Approved

Tip of the Week

Keep major renovations in line with your neighborhood. Over-improving for the area limits your return at resale.

Your Mortgage Advisor